Enron's Azurix Division Prepares
To Drop Argentine Water Contract

By

Michelle Wallin Dow Jones Newswires

Updated March 1, 2002 12:01 a.m. ET

BUENOS AIRES -- Enron Corp. is preparing to walk away Friday from a contract to run the water and wastewater systems in the province of Buenos Aires, beginning a difficult fight to recover the nearly $550 million the company has invested in Argentina's largest province.

The contract dispute pits Azurix Corp., the global water division of a notoriously failed corporate parent, against Buenos Aires, a stone-broke province in a country...